Swiss retail group Migros' M-Industry product development platform saw sales growth across most of its channels in 2016, as well as seeing a 12.4% increase in export turnover.
The business posted total sales of CHF 6.39 billion, a 2.1% increase on the previous year.
Its Meat/Poultry/Seafood division, which includes brands such as Micarna, Mérat, Favorit and Schär, posted sales of CHF 1.5 billion, a 2.8% increase, while also recording a 0.8% increase in exports.
The group's dairy division, which features brands such as Elsa, Mifroma, Dörig and Bergsenn was the second largest in terms of turnover, with sales of CHF 1.07 billion, a 3.0% increase (+14.7% in exports).
Its best-performing division in terms of sales growth was Confectionery, which posted sales of CHF 838 million, a 5.2% increase, and 35.7% increase in export sales.
Its bakery and pasta segment (CHF 993 million worth of sales) saw a marginal decline of 1.7%, however this was due to a change in the segment structure. Export sales in this division were up 3.0%.
In a statement, Migros said that while the Swiss market will 'remain challenging' for M-Industry, the group's international business will be 'further developed organically and through acquisitions in key markets'.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
